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15 Medical Billing Job Functions Streamlined By Outsourcing!

July 31, 2012

Medical Billing Outsourcing primarily known to streamline physician’s AR and denial management also plays a vital role in streamlining various job functions for physicians.

According to Industry experts:

One-fourth of all medical practice revenue not procured due to Under Pricing, Under Coding, Missed Charges or Unreimbursed Claims

Hundreds of millions of dollars is lost annually due to medical billing errors

It costs $25 to $30 to manage the average denial; hence physicians prefer to submit cleaner claims from the beginning by streamlining their job functions

Moreover increased administrative responsibilities are also encouraging healthcare entities to look towards outsourcing their medical billing process to a billing specialist who is equipped to completely handle this process accurately and will be able to avoid unnecessary errors.

With this trend increasing numbers of physicians are meeting their revenue targets as a result of streamlined job functions.

Timely process in place for Denial Management & Appeals ensuring very little revenue loss to the practice

Ongoing Payer follow-ups ensuring maximum reimbursements to the practice at minimized cost to the practice

Daily/ Weekly/ Monthly reporting system in place, which helps the practice attain minimum revenue losses and also low financial leakages

Patient Follow up process in place when the payer denies a claim

Staff Retention of billing staff not necessary as the outsourcing partner takes care of all those headaches

Elimination of maintaining vast Payrolls of all billing related staff

Management of billing employees leaves and smooth working of business even during holidays with outsourcing company vast set up ensuring ongoing billing the entire year

Front end administration managed better as all your back end functions are looked after efficiently

Revenue planning possible with all old accounts cleared and sorted out by the billing specialist

Transparent & Clear patient accounts analysis by the end of the year allowing clear budgeting and eligible patient database

With these job functions taken care of by billing specialist physicians can concentrate on their patients additionally managing to lower their costs.

Attain maximum Medical Billing Revenue with the help of outsourcing!

Streamlining Benefits to RCM:

By streamlining job functions a medical practice can dramatically improve its RCM/cash flow, leading to improved earnings and increased savings. Moreover as the billing is solely handled by a specialist you can leave aside all your billing worries and increase your earnings with improved patient flow.

Outsourcing to MBC will provide all the above services and also help you:

Save up to 60% on operational costs

Earn up to 32% more in revenues

Acquire free EMR & Practice Management with our offerings

30-40% reduction in AR days due to correct usage of modifiers

Denials reduced by almost 10-15%, resulting in additional revenue

Utilize Customized Billing Strategies to make up lost revenue!

Medicalbillersandcoders.com experienced Billing team has been assisting in revenue maximization for healthcare organizations looking to outsource for - over a decade now across the 50 US States and across varied specialties. Our team is constantly training and updating themselves about industry requisites including HIPAA compliance, and ICD-10, CM.

MBC also provides consultancy right from the best EHR– to data analytics, assuring our physicians maximum reimbursements at considerably lower costs.

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Medical Billers and Coders is the largest consortium in the United States. We can help you save 35% of your cost in medical billing services and reduce your Account Receivables (AR) days to an average of 21 days.

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The impending transition to ICD-10, one of the most crucial changes in healthcare, the new coding system is here. MBC’s professional services in ICD-10 can help you with end-to-end solutions for a successful implementation.